MasterCard Sets Contactless Payments Deadlines for European Merchants (Sept. 11, 2014)
MasterCard has given European merchants accepting MasterCard and Maestro a deadline of no later than 2020 to update their POS systems so consumers will be able to tap to pay with their contactless cards and NFC-enabled devices at all POS terminals throughout the continent. To reach its contactless payments goal, MasterCard set two deadlines: New POS terminals must meet the new standard as of Jan. 1, 2016, and existing POS terminals can be replaced at the end of their lifecycles, but no later than Jan. 1, 2020.
“Europeans can already use contactless cards or NFC-enabled mobile payments in 36 countries across Europe, and their enthusiasm for this safe and simple way to pay is evident,” said Javier Perez, MasterCard Europe president. “NFC-enabled cell phone shipments are to soar fourfold in the next five years … [and] MasterCard wants to ensure that mobile and contactless payments are safe and simple wherever you are in Europe.”
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